Saturday, 27, February, 2021

Uzbekistan's international trade topped US$ 36.3 billion in 2020, with a trade deficit at US$ 6.04 billion (in 2019, US$ 41.8 billion and US$ 6.8 billion, respectively), the Central Bank's said in its monetary policies review.

The US$ 5.5 billion decrease in international trade was caused by several factors, including a decrease in domestic and external demand amid the lockdown measures in the country and abroad, the suspension of enterprises and intercountry transport services, and the enhanced protectionist foreign trade policies in many countries and others.

In 2020, Uzbekistan exported US$ 15.1 billion worth of goods and services, which is by 13.4% less to 2019.

Gold accounts for about 44% of all exports (in 2019 - 35%), recording a 18% increase, propelled by the gold price rise in the world market.

Also, export growth was noted in such commodity items as textiles - by 18%, machineries and equipment - by 9.4%. At the same time, the export of oil, gas and oil products (by 74%), cotton fiber (by 48%), fruits and vegetables (by 17%) decreased.

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